Just catching up with these threads and see you have left the TCL building. Fair enough. At 15-16 dollars it is by no means cheap imo. I do have some colour to add though.
Although I agree with the 2% traffic growth for established toll roads, with new toll roads coming online, this should boost traffic volumes overall beyond this. Furthermore, their FCF is supporting a slowly growing dividend per share atm, without these new toll roads active. So when these start generating income I am expecting the dividend to pick up a bit more than the current 4-5% increase pa. We shall see.
I do however agree that their latest purchase (M5 West) is not a great deal on paper. I will be watching for their "tax saving" on this one with interest, if it is provided. I don't think I will participate in the SPP though. I generally don't like them (prefer entitlements), the discount is not that high, and I already have quite a high percentage (for me) of my portfolio in TCL.
Interesting that the IRR you mention for TCL is 6% though. Where else have I heard that IRR figure recently..…….
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Last
$12.40 |
Change
0.080(0.65%) |
Mkt cap ! $38.34B | |||
| Open | High | Low | Value | Volume |
| $12.42 | $12.50 | $12.38 | $50.46M | 4.066M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 38796 | $12.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.41 | 318 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| TCL (ASX) Chart |